What does the entrepreneur’s latest acquisition mean for crypto
Elon Musks’ $44 billion acquisition of Twitter has tongues wagging in the Web3 space as advocates ponder what the purchase could mean for a platform that’s so native to the crypto community. After initially snubbing the Tesla founder’s offer last week, the board agreed unanimously to sell Twitter to Elon Musk, who plans to take the company private.
In this article, we will look at some events before and after Elon’s purchase of Twitter to see what they could tell us about his intentions for a platform that boasts 229 million daily active users.
Moreover, after initially banning crypto advertising and chat in early 2018, Twitter did a complete U-turn and became the first central platform to pioneer NFT avatars as profile pictures and has arguably become the home of crypto natives. Meanwhile, some of Musk’s non-crypto plans include making its algorithm open-source, adding an edit button, and letting…